Your credit history is a record of your debts and how responsibly you have repaid them over time. Lenders use your credit history to help determine your eligibility for loans and may also use it to set your interest rate. Credit history is documented in your credit report, which is created by credit bureaus such as Experian, TransUnion, or Equifax. While there are several credit bureaus that provide credit scoring, Experian is the only report we review when you apply for a loan with Earnest.
What is Considered Debt?
Debt is money owed to a business or lender. Common forms of debt include:
- Credit cards
- Auto loans
- Student loans
- Personal loans
- Mortgages
How Do I Know If I Have Credit History?
If you have had any of the debts listed above, you likely have a credit history. The length of your credit history is generally based on the date you first opened an account in your name. Even if you open additional accounts later, your credit history length is calculated from your earliest account. Here are some examples of how credit history can be calculated:
| Applicant | First Debt Opened | Application Date | Credit History Length |
| Ellie E. | August 2015 – Credit card | August 2018 | 3 years |
| Ernie E. | September 2017 – Auto loan, January 2018 – Credit card | December 2018 | 1 year, 3 months |
How Can I Get My Credit Report?
Your credit report will show both your current and past debts, as well as the length of your credit history. You can get a copy in two ways:
- Contact the credit bureaus directly - Experian, TransUnion, or Equifax.
- Request your free annual credit report - You are entitled to one free report per year from each of the three major bureaus at AnnualCreditReport.com.